Millennium Management LLC Buys 96,057 Shares of Arq, Inc. (NASDAQ:ARQ)

Millennium Management LLC lifted its position in shares of Arq, Inc. (NASDAQ:ARQ - Free Report) by 167.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 153,470 shares of the company's stock after purchasing an additional 96,057 shares during the quarter. Millennium Management LLC owned 0.37% of ARQ worth $1,162,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ARQ. SG Americas Securities LLC acquired a new position in shares of ARQ during the fourth quarter worth approximately $95,000. Charles Schwab Investment Management Inc. raised its position in shares of ARQ by 12.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 79,646 shares of the company's stock worth $603,000 after purchasing an additional 8,909 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of ARQ by 128.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 149,119 shares of the company's stock worth $1,129,000 after purchasing an additional 83,784 shares during the period. Intech Investment Management LLC acquired a new position in shares of ARQ during the fourth quarter worth approximately $89,000. Finally, American Century Companies Inc. raised its position in shares of ARQ by 32.3% during the fourth quarter. American Century Companies Inc. now owns 38,717 shares of the company's stock worth $293,000 after purchasing an additional 9,442 shares during the period. 18.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group lowered their target price on ARQ from $9.00 to $8.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th.

ARQ Stock Up 3.1%

Shares of NASDAQ ARQ traded up $0.16 during trading on Friday, hitting $5.30. The stock had a trading volume of 214,960 shares, compared to its average volume of 263,984. The firm has a fifty day moving average of $4.11 and a two-hundred day moving average of $5.46. The company has a market capitalization of $223.72 million, a PE ratio of -530.00 and a beta of 1.70. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.89 and a quick ratio of 2.28. Arq, Inc. has a 12 month low of $3.34 and a 12 month high of $8.11.

ARQ (NASDAQ:ARQ - Get Free Report) last released its quarterly earnings results on Wednesday, March 5th. The company reported ($0.03) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.03). ARQ had a negative net margin of 0.44% and a negative return on equity of 0.25%. The company had revenue of $27.04 million for the quarter, compared to analyst estimates of $28.34 million. During the same period last year, the firm earned $0.14 earnings per share. As a group, equities research analysts forecast that Arq, Inc. will post -0.13 EPS for the current fiscal year.

Insider Activity at ARQ

In other news, Director Jeremy Blank purchased 50,000 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The shares were bought at an average cost of $4.10 per share, with a total value of $205,000.00. Following the completion of the transaction, the director now directly owns 374,955 shares of the company's stock, valued at approximately $1,537,315.50. This trade represents a 15.39% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard Campbell-Breeden acquired 75,000 shares of the stock in a transaction on Friday, May 23rd. The stock was bought at an average cost of $4.10 per share, for a total transaction of $307,500.00. Following the transaction, the director now owns 226,148 shares of the company's stock, valued at approximately $927,206.80. This trade represents a 49.62% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 165,856 shares of company stock valued at $677,555 and have sold 20,588 shares valued at $96,352. 26.87% of the stock is owned by insiders.

ARQ Company Profile

Arq, Inc is a holding company. It engages in the provision of environmental and emission control equipment to the power generation industry. The company operates through the following Segments: Refined Coal and Advanced Purification Technologies. The Refined Coal segment includes the Tinuum Group, Tinuum Services, and GWN Manager.